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The New VAT Penalty System

The New VAT Penalty System

New system: The new VAT penalty system will apply to VAT periods starting on or after 1 January 2023 and will deal with late returns and late payments separately. Both legs of the system will reflect taxpayer behavior, and seek to punish persistent offenders rather...
Changes in Research & Development Tax Regime

Changes in Research & Development Tax Regime

UK Enacts Significant Changes to Research & Development Tax Regime Significant changes to the UK’s Research & Development (R&D) tax relief regime are being introduced with effect from 1 April 2023. Changes to R&D tax relief rates Relief is available...
Timing Dividends Correctly

Timing Dividends Correctly

What directors can do before the end of the tax year to reduce the tax bill on dividends withdrawn and warns of a timing trap? It has taken a long time; but from 6 April 2023, the rate of tax on dividends will increase such that there is now near parity between taking...